India’s commodity markets reflected a diverse pricing landscape on Tuesday, driven by seasonal shifts, inflationary pressures, and supply-demand dynamics. Prices across essential agricultural commodities—including grains, pulses, spices, and oils—exhibited a wide range of fluctuations. Staple items such as turmeric, chili, and gingelly oil continued to trade at elevated levels, indicating strong demand and limited supply. Meanwhile, more stable categories like wheat, sugar, and rice maintained moderate volatility. This report examines prevailing wholesale prices across categories and offers a detailed view of underlying trends shaping India's commodities market outlook.
Cereal and Grain Trends: Stability Amidst Mild Variability
Grains, the bedrock of the Indian food supply chain, exhibited price stability with some regional variations:
- Fine rice ranged from Rs. 4,000 to Rs. 7,400 per quintal, while medium rice was slightly lower at Rs. 3,900 to Rs. 5,500.
- Wheat maintained a steady band of Rs. 4,500 to Rs. 5,000, reflecting manageable inventory levels and moderate procurement activity.
- Jowar, a coarse grain largely consumed in arid regions, hovered between Rs. 3,000 and Rs. 3,500 per quintal.
These figures suggest that grain prices remain largely unaffected by immediate external shocks, supported by adequate stock levels and routine trading flows.
Pulses: Moderate Strength Driven by Consumer Demand
Pulses showed a healthy price spectrum, underpinned by consistent consumer demand and relatively stable harvests:
- Turdhal (pigeon pea) commanded Rs. 9,800 to Rs. 12,200 per quintal.
- Green gram dhal (moong) traded at Rs. 9,800 to Rs. 11,000.
- Black gram dhal (urad) exhibited more volatility, ranging from Rs. 9,600 to Rs. 14,200.
- Bengal gram dhal (chana) stayed within a narrower range of Rs. 7,300 to Rs. 8,400.
While price bands indicate stable supply for most lentils, urad’s broader range may reflect regional disruptions or import dependency.
Spices and Condiments: Premium Pricing Persists
Spices continued to trade at premium levels, suggesting tight supply chains and strong export demand:
- Turmeric prices soared between Rs. 16,000 and Rs. 22,000, reflecting constrained availability post-harvest and rising domestic consumption.
- Chili (fine quality) stood firm at Rs. 15,000 to Rs. 18,000 per quintal, maintaining its status as one of the highest-priced spices.
- Coriander seeds traded between Rs. 9,000 and Rs. 11,000, indicating a balanced market.
- Tamarind remained robust at Rs. 10,000 to Rs. 15,000, fueled by its utility in food processing and exports.
The high prices in this segment underscore a broader trend of rising input costs and post-harvest supply constraints in key spice-producing regions.
Vegetables and Perishables: Price Volatility Driven by Harvest Cycles
Vegetable prices presented a mixed picture, influenced by perishability and transportation dynamics:
- Potatoes (medium quality) traded at Rs. 1,600 to Rs. 1,800, while large varieties were unquoted—possibly reflecting region-specific supply gaps.
- Onions ranged from Rs. 800 to Rs. 1,600, varying by grade and freshness.
- Garlic displayed sharp fluctuations, moving from Rs. 3,000 to Rs. 9,500 per quintal.
- Horsegram, a protein-rich legume, traded between Rs. 5,000 and Rs. 5,300.
Fluctuations in perishables often mirror climate disruptions, storage limitations, or logistical bottlenecks—factors that continue to affect this segment.
Oilseeds and Edible Oils: Inflationary Pressure Evident
Edible oils and oilseeds remained elevated, a trend driven by both domestic and international inflationary headwinds:
- Groundnut seed was quoted at Rs. 12,300 to Rs. 12,800 per quintal.
- Copra, used primarily in coconut oil production, hovered between Rs. 16,500 and Rs. 18,000.
- Mustard maintained Rs. 7,000 to Rs. 8,500, reflecting stability after recent market corrections.
- Gingelly seeds, known for their nutritional and industrial value, commanded Rs. 17,000 to Rs. 22,000.
In the packaged oils segment:
- Groundnut oil (10 kg) sold at Rs. 1,400 to Rs. 2,300.
- Coconut oil (10 kg) ranged from Rs. 2,600 to Rs. 3,200.
- Gingelly oil, often used in traditional cuisine and Ayurveda, fetched Rs. 2,300 to Rs. 5,100—suggesting continued premium pricing.
- Ghee (5 kg packs) remained relatively stable at Rs. 2,750 to Rs. 2,950.
Price resilience in this category reflects elevated global commodity prices and sustained domestic demand.
Sweeteners: Stable Amid Surplus
Sugar and jaggery prices remained largely flat, benefiting from ample domestic output and well-regulated distribution:
- Sugar stood between Rs. 3,800 and Rs. 4,000 per quintal.
- Jaggery (cube) ranged from Rs. 4,500 to Rs. 5,000, while jaggery (ball) traded higher at Rs. 5,000 to Rs. 5,400.
This price stability is a positive sign for food inflation metrics and broader market sentiment.
Conclusion: A Mixed Commodities Landscape with Inflationary Pockets
India's commodity markets, while exhibiting stability in some core sectors like cereals and sugar, continue to show inflationary tendencies in high-demand and specialty categories such as spices, edible oils, and pulses. With monsoon season approaching, supply-side uncertainties could further influence volatility. Traders, retailers, and policymakers alike must remain vigilant, as global dynamics—from oil prices to geopolitical tensions—continue to cast a shadow over India’s commodities pricing matrix.
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